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CSoC King
CSoC King
Dear Friends,

Please find the following link


for "Reduction of Time-line for Transfer of Equity Shares to 15 days and the same time-line shall also be applicable for transfer of debt securities"

This is effective from 1st October 2012.

This amendment is relevant for CS Examination June 2013 onwards.

All amendments prior to 6 months from 26/12/2012 are applicable for December 2012 CS Examination

Securities and Exchange Board of India

CIR/MIRSD/8 /2012 July 05 , 2012

All Recognized Stock Exchanges
All SEBI registered Registrars to an Issue and Share Transfer Agents

Sir / Madam,

Sub: Reduction of Time-line for Transfer of Equity Shares and Prescription of
Time-line for Transfer of Debt Securities.

1. The listing agreement for equity shares prescribed under the Securities Contracts (Regulation) Act, 1956 inter alia specifies a period of one month for registering transfer of shares from the date of lodgment.

2. With a view to expedite the transfer process in the interest of the investors, it has been decided, in consultation with Registrars Association of India (RAIN), Stock Exchanges and market participants to reduce the time-line for registering the transfer of shares to 15 days. The same time-line shall also be applicable for transfer of debt securities.

3. Accordingly, all the recognized stock exchanges are directed

a. to amend Clauses 3 (c) and 12A(3) of the listing agreement for equity shares,

b. to amend Clauses 3(c) and 14(b) of the SME Equity listing agreement,

c. to incorporate the time-line of 15 days for transfer of debt securities
and the provision for compensation of the opportunity losses caused
during the period of delay in transfer, in the listing agreement for debt
securities, on the lines of the existing provisions in the listing
agreement for equity shares and SEBI Circular No. SMDRP/POLICY/CIR-46/2001 dated September 27, 2001,

d. to amend any other clauses as applicable in the above listing agreements.

4. All SEBI registered Registrars to an Issue and Share Transfer Agents are
directed to adhere to the above time-lines for transfer of shares and debt

5. In view of the above, the time-line for transfer of shares and / or provision for compensation for delay thereof, as referred to in SEBI Circulars No. RTI Circular Securities and Exchange Board of India

No.1(2000-2001) dated May 09, 2001, SMDRP/POLICY/CIR-46/2001 dated
September 27, 2001 and PMD/RRTI/NB/22463/2002 dated November 20, 2002
stand modified.

6. This circular is issued in exercise of powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992, to protect the interests of investors in securities and to promote the development of, and to regulate the securities markets and shall come into force with effect from October 01, 2012.

7. This circular is available on SEBI website (www.sebi.gov.in) under the categories “Legal Framework” and “Circulars”.

Yours faithfully,

Deputy General Manager
Tel. No: 022-26449220
Email id: saravanank@sebi.gov.in

Last edited by rchgiri on Thu 4 Oct 2012 - 12:37; edited 2 times in total (Reason for editing : correction)


CSoC Well-Wisher
CSoC Well-Wisher
nice share..appreciate ur wrk sir..keep sharing


CSoC Smart User
CSoC Smart User
Thanks for updating us Sir,

Keep sharing


CSoC Smart User
CSoC Smart User
thanks sir for updating


CSoC Master
CSoC Master
|Nice share !!



CSoC King
CSoC King
Thanks to all for participation.


CSoC King
CSoC King
This amendment is applicable w.e.f CS Examination June 2013 onwards.

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